2035
Recycles dryer sheets
- Joined
- Jan 9, 2012
- Messages
- 214
Hi Folks,
I've been visiting this site for awhile and finally joined tonight. This forum is very inspiring for people at all stages of retirement planning and I'm glad to be part of the group.
My stats:
- Single
- 38
- Female
- No kids (except a cat)
- Income: 70,000/yr (but I live in the Bay Area)
- Real Estate: I’m not currently a homeowner, but I’m looking to score a cheap (under $150k) condo in the next year or two. I've been a homeowner in another state, but didn't think I'd ever find something affordable in BA, until recently.
-retirement assets: 401(k): $84,685, Roth: $15,861...which if you do the math means my retirement assets just hit six figures tonight!!!
I'm sure this is a tiny amount to most here and not as much as I should have at my age, but this is a huge psychological milestone for me. Just a few years ago, my head was spinning because my portfolio hit $10K. Most of the people in my family (except for my dad) are terrible with money and broke in their 50s and 60s...so that was my wake-up call a few years ago to start saving!!!
May I ask a question? Although I work for a company that provides a good pension, I'm not factoring SS or a pension in my retirement planning. Has anyone here truly retired on the income from a 401(k) or IRA alone...no inheritances, or windfalls from real estate...just 401(k) and IRA? I just wonder if it's truly possible. I started maxing out both and plan to retire by 60 or 62.
I've been visiting this site for awhile and finally joined tonight. This forum is very inspiring for people at all stages of retirement planning and I'm glad to be part of the group.
My stats:
- Single
- 38
- Female
- No kids (except a cat)
- Income: 70,000/yr (but I live in the Bay Area)
- Real Estate: I’m not currently a homeowner, but I’m looking to score a cheap (under $150k) condo in the next year or two. I've been a homeowner in another state, but didn't think I'd ever find something affordable in BA, until recently.
-retirement assets: 401(k): $84,685, Roth: $15,861...which if you do the math means my retirement assets just hit six figures tonight!!!
I'm sure this is a tiny amount to most here and not as much as I should have at my age, but this is a huge psychological milestone for me. Just a few years ago, my head was spinning because my portfolio hit $10K. Most of the people in my family (except for my dad) are terrible with money and broke in their 50s and 60s...so that was my wake-up call a few years ago to start saving!!!
May I ask a question? Although I work for a company that provides a good pension, I'm not factoring SS or a pension in my retirement planning. Has anyone here truly retired on the income from a 401(k) or IRA alone...no inheritances, or windfalls from real estate...just 401(k) and IRA? I just wonder if it's truly possible. I started maxing out both and plan to retire by 60 or 62.
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